Sika (SIKA) Q1 2026 TU earnings summary

Executive summary

• Q1 2026 sales reached CHF 2.49 billion, reflecting 0.9% growth in local currencies but a 7.0% decline in CHF due to negative currency effects, with market share gains across all regions.

• Organic growth was -0.2%, with acquisitions contributing 1.1% to growth.

• Fast Forward initiatives and MBCC synergies are on track, targeting CHF 150–200 million EBITDA contribution and CHF 60 million in savings for 2026, with CHF 80 million expected in 2026 and 70% run rate achieved by Q1.

• Continued strategic investments included the completed acquisition of Finja (Sweden), the announced acquisition of Akkim (Turkey), and the opening of five new production sites globally.

• Strategic medium-term targets for 2028 focused on sustainable, profitable growth were reaffirmed.

Financial highlights

• Q1 2026 sales: CHF 2.49 billion, up 0.9% in local currencies, down 7.0% in CHF due to a -7.9% FX impact.

• Organic revenue growth was -0.2% in Q1, a sequential improvement from Q4 2025.

• M&A contributed 1.1% to Q1 revenue growth, with further impact expected from the Akkim acquisition in Q3.

• EMEA region grew 3.6% in local currency, Americas declined 0.8%, Asia/Pacific declined 2.2%.

• Construction segment accounted for 83% of net sales.

Outlook and guidance

• Full-year guidance reaffirmed: 1%-4% local currency sales growth and EBITDA margin of 19.5%-20%.

• Medium-term ambition to outperform the market by 3% to 6% in local currencies reaffirmed.

• Global market conditions expected to remain muted in 2026, with gradual improvement anticipated in the second half.

• Foreign exchange headwind for the year expected to moderate to -3% to -4%.